'Many Gen Zs are challenging companies to do and be better'
ESG is a crucial consideration for employment among young workers, according to a recent report.
Overall, 87 per cent of British Columbians aged 18 to 34 years old say they prefer to work for socially and environmentally responsible companies, reports the British Columbia Automobile Association (BCAA).
And 61 per cent say they will only work for responsible companies.
"Many Gen Zs are challenging companies to do and be better and I believe that bodes well for the future of work as well as how companies run their businesses. It's certainly a competitive advantage for those who get it right," says Shawn Pettipas, BCAA's director of corporate purpose.
More companies are recognizing the positive business case for ESG, according to a previous report.
How important is ESG to employees?
Over three in five (62 per cent) of young workers say they want to work for companies that put corporate purpose at the centre of how they operate, finds the BCAA survey of 505 18- to 34-year-old British Columbians, conducted Feb. 12 to 15, 2024.
And 49 per cent go as far as putting values over dollars, saying they will even take a slight pay cut to work for a responsible company.
Over one in three Gen Z workers and Millennials say they would take a pay cut just to work for an employer with an ESG strategy, according to a previous report from the Society for Human Resource Management (SHRM).
Alusch Amoghli, director of development at hospitality company Accor, notes that ESG considerations can significantly impact the hiring of talents within organizations.
“As companies increasingly prioritize sustainability and ethical practices, ESG factors have become integral to the evaluation of a company's overall performance and reputation,” Amoghli says via LinkedIn.
Companies with strong ESG practices are more likely to attract talent looking for purpose-driven work environments, Amoghli says, and prospective employees “may assess a company's ESG efforts as an indicator of a positive and socially responsible work environment”.
How do you demonstrate social and environmental responsibility?
Here are some things employers to ensure and show that their company is a responsible corporate citizen, according to BDC:
- Adopt a business code of ethics.
- Follow a workplace health and safety program.
- Develop policies and practices that allow your company to fulfill your commitment to the environment.
- Get your suppliers on board.
- Get behind causes that are meaningful for your business.
- Use marketing techniques that are fair and honest, and that reflect your company’s integrity.
A majority of Canadian employers are not prepared to meet ESG mandates that are taking effect this year, according to a previous report.
